90 UGLOBAL IMMIGRATION MAGAZINE
APPLYING FOR THE TWO-YEAR PERMANENT RESIDENCY IN PANAMA
Except for two specific residency programs ( Pensioners and the Italian Friendship Treaty program ), most residency categories in Panama initially provide applicants with a two-year permit , which can later be upgraded to permanent residency .
To begin the residency application process , applicants and their dependents must make an initial visit to Panama . An immigration attorney can handle the necessary paperwork and gather the required documents , which typically takes one to two weeks , depending on the specific residency category . Once the application is submitted , applicants receive a temporary residency ID along with a Multiple Return Visa , allowing them to leave the country as needed during the application process .
Applications are reviewed and approved within three to six months . At this point , applicants and their dependents must return to Panama again to collect their two-year residency permits . After this step , multiple return visas are no longer required . Provisional residents can choose to reside in Panama or travel abroad if they return before their two-year residency expires .
Before the initial two-year permit expires , provisional residents can apply for permanent residency , which involves a similar process to the provisional one . This requires a third visit to file the application and a fourth visit to collect permanent residency IDs for both applicants and dependents .
A fifth visit is necessary for those interested in obtaining a Panamanian ID , which can serve as a tax number .
This process can be lengthy and involve multiple trips to Panama , incurring expenses related to flights , accommodations , and other costs .
“ Applicants can achieve permanent status within 30 days from the moment they submit their application .
”
FEATURES OF THE QUALIFIED INVESTORS ’ PROGRAM
This program offers an innovative , fast-track path to permanent residency .
On Oct . 15 , 2020 , Executive Decree 722 introduced an exclusive permanent residency option for Qualified Investors in Panama . This special category is designed for individuals seeking permanent residency status and profitable investment opportunities .